COPT Defense Properties (NYSE:CDP) Announces Quarterly Earnings Results

COPT Defense Properties (NYSE:CDP) released its quarterly earnings data on Monday. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.33), Zacks reports. The business had revenue of $187.34 million during the quarter, compared to analysts’ expectations of $166.11 million. COPT Defense Properties had a negative return on equity of 7.53% and a negative net margin of 16.83%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.

COPT Defense Properties Price Performance

COPT Defense Properties stock traded up $0.28 during midday trading on Tuesday, reaching $28.55. 45,327 shares of the company were exchanged, compared to its average volume of 840,799. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -26.17, a P/E/G ratio of 2.70 and a beta of 0.98. The firm’s 50-day simple moving average is $25.26 and its 200-day simple moving average is $24.46. COPT Defense Properties has a 1 year low of $22.20 and a 1 year high of $29.12. The company has a debt-to-equity ratio of 1.58, a quick ratio of 3.66 and a current ratio of 3.66.

COPT Defense Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th were given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend was Friday, June 28th. COPT Defense Properties’s dividend payout ratio is currently -109.26%.

Analysts Set New Price Targets

Separately, Wedbush reiterated an “outperform” rating and issued a $28.00 price objective (up previously from $27.00) on shares of COPT Defense Properties in a research report on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

About COPT Defense Properties

COPT Defense, an S&P MidCap 400 Company, is a self-managed REIT focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government (USG) defense installations and missions (referred to as its Defense/IT Portfolio). The Company's tenants include the USG and their defense contractors, who are primarily engaged in priority national security activities, and who generally require mission-critical and high security property enhancements.